About this property
Key Features
Freehold subject to tenancies
Separate 2 bed flat at first floor level
Ground floor retail premises
Mixed-use investment property generating a total income of £20,400 per annum
Description
An attractive mid-terraced investment property, occupying a prominent position in the heart of the thriving seaside town of Great Yarmouth. The property is fully let and therefore presents a fantastic investment opportunity to purchasers.
The building has a pitched concrete tiled roof (which has been recently been overhauled) and an area of flat roof to rear over brick elevations, and features the following accommodation:
Ground Floor: Trading as Cooking Asia supermarket, the property has a large glazed frontage to the busy pedestrianised street. There is a main trading area, with further store to rear, Utility Area and Cloakroom. A pair of double doors to the rear gives access to a rear communal yard/parking area, within which the building benefits from 2 parking spaces.
First Floor: The first floor flat is accessed via an external staircase to the rear of the building which leads to a private entrance door for the following accommodation: Entrance Hall; Kitchen with a range of MDF base and wall units; 2 Bedrooms; Sitting Room with window overlooking Regent Road; Bathroom with modern white wc wash hand basin, bath with overhead shower.
EPC Rating: D
Tenure
Freehold subject to tenancies
Location
The property is ideally located in the heart of Great Yarmouth, a short walk from the seafront and in an area that experiences high volumes of foot traffic in this pedestrianised part of the town.
Lot Type
Commercial
Tenancies
The property is fully let and produces a total current income of £20,400 per annum.
The ground floor (retail shop) is let to a private individual for £12,000 per annum on a lease commencing September 2024 until September 2031 and thereby with approximately 6 years remaining.
The first floor flat is let on an AST dating from December 2024, for a rent of £8,400 per annum.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or John Appleby at Leonard Gray, 72-74, Duke Street, Chelmsford, Essex, CM1 1JY
Viewing
Cheffins Property Auction Dept 01223 213777
Important notes
*Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.
Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.�